Coal companies lose money in the first quarter

The quarterly report disclosed by listed coal companies shows that the first quarter of coal mining companies suffered losses compared to the same period last year. According to industry analysts, the coal market will continue to be turbulent and difficult to change in the short term.

According to the statistics of the performance of the 10 large coal listed companies, only one of them experienced a year-on-year increase in revenue, while the remaining nine companies experienced different degrees of decline. Among them, the largest Yanzhou coal mine fell by 40%. In terms of net profit, 4 out of the above 10 listed companies suffered substantial losses, among which coal gasification, Shaanxi Coal, and coal losses all exceeded RMB 200 million. The remaining six companies also saw a decline in net profit, of which Pingmei's net profit fell as much as 152.08%.

Turning to the first-quarter financial results of the above-mentioned enterprises, a total of three revenues increased year-on-year, and only one company suffered a loss. The comparison shows that loss-making companies have increased by 3 compared with the same period of last year, and the loss of the industry has expanded. As for the causes of loss, Shenhua Group's financial report analysis showed that China's economic growth slowed down further in the first quarter. Influenced by factors such as the macroeconomic situation and winter temperatures, coal demand was weak, and the coal market continued to oversupply, resulting in poor market conditions. Prices continue to fall.

In the first quarter of the performance is generally not optimistic about the situation, most companies have lost confidence in the results of the first half. Shenhua financial report analysis, entered the second quarter, due to the government's energy structure adjustment efforts, the temperature rebound, coal demand is expected to be further limited; by the coal industry regulations, "compliance production, strengthen coal quality management" and other total control policies and the implementation of coal Affected by factors such as the overhaul of the main transport trunk, the supply of coal will decline, but the decline is expected to be less than the decline in demand, and the trend of oversupply is difficult to reverse.

The industry believes that the current low economic level of coal, the short term is difficult to change, the recent price rise is weak, business difficulties will continue to increase. In the current period of coal economic downturn, it is necessary to further strengthen industry self-regulation, take the initiative to control the total amount, stabilize coal prices, ensure safety, and ensure stability. In the medium and long term, it is necessary to promote the transformation of coal consumption patterns and improve the level of clean and efficient utilization. At the same time, it is necessary to promote the shift of coal from fuel to raw materials and fuel, effectively replace oil and gas resources, and increase the added value of coal products.